Institute News

Knowledge Transfer, Knowledge Management, and Succession Planning…Oh My!

Business owners and human resource managers are facing an impending mass exodus of senior workers, the likes of which has never before been seen. As we move forward further into the first decades of the 21st century, we will soon have to deal with the reality of the Baby Boomers retiring. The federal Bureau of Labor Statistics estimates that by 2010, 24 million workers will need to be replaced due to death or retirement. Some organizations could lose up to 50% of their executives in the next two to three years. As this generation leaves the workplace, the consequences of their exit and the steps necessary to ensure a smooth transition should be carefully examined. (From the "Exceptional Workplaces; Exceptional People" report, from Tandem HR)

We recognize the impending effect of the loss of retiring leaders and employees across all industry landscapes due to large scale retirements by the baby boomer generation. Many organizations have begun to seriously examine the impact of this loss, and are seeking approaches to avoid the loss of critical, often unspoken knowledge, along with the more tangible, visible skillsets.

Working with us and an expert partner in the field of Knowledge Transfer you will be able to:

  • Retain and cross-train more than 90% of your company’s unique knowledge so you don’t lose the recipe to your “secret sauce”.
  • Cut by 50%.the onboarding time of new hires or employees in changed job roles.
  • Learn the simplest and quickest methodology to measurably reduce your workforce risks.

If you are facing this impending challenge, contact us and we would look forward to meeting with you to discuss your particular needs.

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UMass Donahue Institute

University of Massachusetts

Office of the President

100 Venture Way, Suite 9

Hadley, Massachusetts 01035

(413) 545-0001

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